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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (379)	8/1/2000 11:19:19 PM
From: gene_the_mm	Read Replies (3) \| Respond to of 1426

CRASH! DOWN GOES GENE'S HARD DRIVE... Fortunately, I had a 'clone' hard drive waiting in the wings and was able to recover almost all the data (by making the original master drive a slave and stripping it of all it's data -- for all you tech geeks). I will answer all of these questions tomorrow night. However, please note that MM's CAN short IPO's as like any other issue. You are also correct that the underwriting syndicate is obligated by law and CANNOT short the IPO for their account. However, in due course of market making I believe the underwriters MM's CAN short the stock with the intention of anticipating order flow and NOT taking short positions overnight (Again, I am speculating based on what I know - you should check the SEC website for official answers since I have never made markets as part of the underwriting syndicate). There are some great questions here and I will answer them all tomorrow. Sorry about the delay and thanks to all for supporting this thread. All the best, -- Gene

To: LPS5 who wrote (379)	8/2/2000 10:29:08 PM
From: Sam Scrutchins	Respond to of 1426

>>>> It's a silly idea, Sammy. If dealers and specialists were to report their short positions daily, (a) they'd be inaccurate, and (b) the effect would be destabilizing on the markets, particularly on the listed side. <<<< Sorry, LPS5, should have said net position. Also, maybe daily is not realistic, I'm not really sure. However, my view is that the more data that all investors have, the better the market will become. It moves on a dime now, especially for professionals, MM's, and specialists, who have more or less instant data and control the markets. Seems to me that the sharing of this knowledge would not really affect the markets all that much. Maybe I'm wrong, but I think it would give most of us a better edge than we have right now, more of an equal footing. Just my 2 cents. Sam